102 W East St · Delmar, MD 21875

$237,000

3 bd · 2.0 ba · 1,104 sqft · SingleFamily public records · 5 Days on market

Built 2005 0.26 ac lot Est $236k · at est.

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.2/30.0
• ARV discount +7.4/15.0
• DSCR +4.3/10.0
• Livability +3.4/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a look at this charming 3 Bedroom 2 Bathroom home in Delmar. This home has a Master Bedroom & Bathroom as well as large living room. Home has a Shed and rear deck as well. This is a HUD Owned property and all HUD properties are Sold AS IS. For more information visit www. hudhomestore.com or www. olympusams-re.com This property s case number is 241 809557.

Key facts

• 0.26 acre lot
• 2 parking spots
• Built 2005

Property features AI

Exterior

• Parking: Driveway parking (2 spaces); Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer; Electric service for heating, cooling and hot water
• Home design: Detached property; Effective remodel year 2026; Ownership is fee simple
• Construction: Aluminum siding; Vinyl siding; Block foundation
• Exterior features: Privacy fenced yard; Property is in city limits (Delmar); Above-grade and below-grade structures noted

Interior

• Kitchen: Kitchen listed
• Bedrooms: 3 bedrooms on the main level (Living Room, Master Bedroom, Bedroom 2, Bedroom 3 listed among rooms)
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump(s) heating; Central air conditioning; Electric heating and cooling systems; Electric hot water
• Interior features: Estimated living area; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $237k.

Deal economics

• At list price, monthly cash flow is $39 ($472/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (20.1% below list).
• Recommended offer: $189k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.1% in Delmar — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#222 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: schools D+, amenities F, commute F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 active listings in the ZIP; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago; this cycle's ask is 106% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $113k; list at $237k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,440 (20.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $236,256
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 W East St	0.03mi	3/2.0	1,104 (0%)	18mo	$235,900	$214	84
3 W Pine St	0.18mi	3/2.0	1,162 (+5%)	18mo	$225,000	$194	68
8 W Grove St	0.16mi	2/1.0 (-1)	1,080 (-2%)	18mo	$122,920	$114	65
403 N 2nd St	0.45mi	3/2.0	1,226 (+11%)	18mo	$309,500	$252	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-35,980
• Equity at exit: $35,337

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-28,438
• Equity at exit: $20,491

Cash invested: $66,360 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21875

• Home prices YoY: -12.7%
• Active inventory: 46
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,894 medium
• Mortgage (P&I): −$1,243
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $39

Break-even live

Break-even rent $1,845

Max offer price $237,000

Occupancy floor 93%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $59,250
• Closing costs: $7,110
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-17
   status $237,000 Pending 5 DOM
2. 2026-06-17
   days on market $237,000 Active 5 DOM
3. 2026-06-16
   days on market $237,000 Active 4 DOM
4. 2026-06-15
   days on market $237,000 Active 3 DOM
5. 2026-06-13
   statusdays on market $237,000 Active 1 DOM
6. 2026-06-10
   days on market $237,000 Coming Soon 5 DOM
7. 2026-06-09
   days on market $237,000 Coming Soon 4 DOM
8. 2026-06-08
   days on market $237,000 Coming Soon 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $237,000 Coming Soon 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $1,387 · $116/mo
• Projected year-2 tax: $1,985 · $165/mo
• Expected delta: +$598/yr (+$50/mo · 43.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,733
• − Mortgage interest: −$13,276
• − Property taxes: −$1,387
• − Insurance: −$1,185
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$6,895
• Taxable loss: −$3,647
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $1,348/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Delmar

• Score: 67/100
• State rank: #222
• US rank: #11130

Category grades

Amenities F Commute F Cost of living A Crime B- Employment C Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delmar, MD
• Population (ZIP): 7,455

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 19% Hispanic / Latino 9% Asian 6% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 84% English-only · Spanish 9% Korean 3% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.12%
• Current HPI: 247.5758
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+2708.1% since first listed

12 events — show timeline

• 2026-06-05 Coming Soon $237,000 BRIGHT MLS
• 2019-07-09 Sold (Public Records) $113,000 Public Records
• 2019-07-03 Sold (MLS) $113,000 BRIGHT MLS
• 2019-06-05 Pending — BRIGHT MLS
• 2019-05-28 Relisted — BRIGHT MLS
• 2019-05-09 Pending — BRIGHT MLS
• 2019-04-17 Listed $115,000 BRIGHT MLS
• 2019-02-05 Listing Removed — BRIGHT MLS
• 2018-12-17 Listed $117,040 BRIGHT MLS
• 2005-07-12 Sold (Public Records) $143,900 Public Records
• 2003-04-11 Sold (Public Records) $58,000 Public Records
• 1997-04-10 Sold (Public Records) $8,440 Public Records

Property tax history

-1.8%/yr

Latest (2025): $1,387 · +8.2% YoY. Source: county tax records.